Ayurzana N. is 39 years old and lives with his wife and four children in Uvs province, one of Mongolia's western provinces. He has two daughters and two sons, of whom the oldest three children go to local secondary schools. Ayurzana owns a small car that he uses as a taxi in the town. He has been working as a taxi driver since 2007. Since there is almost no public transportation in the town, taxis are quite in demand and he is an experienced taxi driver. Due to health issues, he went to Ulaanbaatar, the capital city of Mongolia for hospital treatment and got back after seven months of treatment. Since then, he has been working hard and recently he sold his old car for profit and bought a bigger car in order to serve his customers better. He requests a loan to get his car serviced and to change the tires for better ones.
This loan is being administered through XacBank, a Mongolian for-profit microfinance institution. XacBank is located in every province of Mongolia, reaching some of the most rural micro business clients. With this Kiva loan, there is an opportunity for the entrepreneur to get a savings account including 9% of the interest if they pay back the loan on time. This is a special savings account that XacBank has specifically prepared for the Kiva loan borrowers to promote savings habits.